Assessee's Cash Purchases in First Year Not Taxable Due to Exceptional Circumstances u/s 40A(3) and Rule 6 DD(j.

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....Addition u/s 40A(3) - substantial cash purchases - the parties have confirmed the sales made to the assessee and this was the first year of assessee’s business - assessee was constrained to make the cash purchases due to ‘exceptional or unavoidable circumstances’, as envisaged in 6 DD (j) of the Rules - no addition....